Pengrowth Energy (PGF) Price Target Cut to C$1.20

Pengrowth Energy (TSE:PGF) (NYSE:PGH) had its price objective cut by analysts at National Bank Financial from C$1.30 to C$1.20 in a research note issued on Tuesday. The brokerage presently has a “sector perform” rating on the stock. National Bank Financial’s price objective indicates a potential upside of 9.09% from the company’s current price.

Other analysts also recently issued reports about the company. AltaCorp Capital upgraded Pengrowth Energy from an “underperform” rating to a “sector perform” rating in a research note on Wednesday, December 13th. BMO Capital Markets reiterated a “market perform” rating and set a C$1.25 target price on shares of Pengrowth Energy in a research note on Tuesday, November 14th. Royal Bank of Canada downgraded Pengrowth Energy from a “sector perform” rating to an “underperform” rating and raised their price target for the stock from C$1.00 to C$1.15 in a research note on Friday, November 10th. Canaccord Genuity downgraded Pengrowth Energy from a “hold” rating to a “sell” rating and raised their price target for the stock from C$0.85 to C$0.90 in a research note on Wednesday, October 4th. Finally, TD Securities downgraded Pengrowth Energy from a “hold” rating to a “reduce” rating and dropped their price target for the stock from C$0.85 to C$0.70 in a research note on Monday, October 2nd. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of C$1.12.

Pengrowth Energy (TSE:PGF) remained flat at $C$1.10 during mid-day trading on Tuesday. 412,062 shares of the company were exchanged, compared to its average volume of 931,554. Pengrowth Energy has a 12 month low of C$0.68 and a 12 month high of C$1.91. The company has a market cap of $618.52, a P/E ratio of -1.07 and a beta of 1.91.

In other news, insider Seymour Schulich bought 3,000,000 shares of Pengrowth Energy stock in a transaction dated Tuesday, December 19th. The shares were purchased at an average cost of C$1.01 per share, with a total value of C$3,030,000.00.

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About Pengrowth Energy

Pengrowth Energy Corporation is engaged in the development, production and acquisition of, and the exploration for, oil and natural gas reserves in the provinces of Alberta, British Columbia, Saskatchewan and Nova Scotia. The Lindbergh thermal property is located approximately 420 kilometers north east of Calgary, Alberta and 50 kilometers south of Bonnyville, Alberta.

Analyst Recommendations for Pengrowth Energy (TSE:PGF)

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